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Is a member permitted to assist the client in understanding the nature of adjusting entries and their impact on the financial statements?

April 26, 2017adjusting assist client entries financial statements impact Nature permitted understanding

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Is a member permitted to assist the client in understanding the nature of adjusting entries and their impact on the financial statements?

1 Answer

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10 Posted

Yes. If a client needs assistance in understanding the nature of the entries and their impact on the financial statements, the member may explain the accounting principles giving rise to the adjustments, as well as the impact of the adjustments on the financial statements.